Despite the market for new homes continuing to strengthen, sales are still below their 52-year historic annual average. KB Home, a home building company headquartered in Los Angeles California, disclosed that its fourth fiscal quarter revenue was lower than expected, ABC News reports.
Harsh winter weather and labor shortages caused a delay in the completion of some homes. As the spring home-selling season approaches, KB Home CEO Jeffrey Mezger, weighed in on the housing market.
Mezger touches on things such as who are KB's main customers, the lack of skilled workers currently on the market, and why home builders aren’t building more despite tight inventory in many markets.